IT'S not quite crawling under the turnstiles to see Wolves play in the way Sir Jack Hayward did as a young whippersnapper.

But Steve Morgan's revelation that Wolves were his `second team' from the day they lifted the 1960 FA Cup will have softened the blow for Hayward who had always dreamed of releasing his treasured Molineux baton to a fellow Wulfrunian.

"Sir Jack wanted to hand Wolves over to an Englishman," boyhood Liverpool fan Morgan announced on taking control yesterday. "Well as a Liverpudlian I almost qualify!"

"We won't mention Liverpool again," countered Sir Jack. "It is very sad Steve wasn't born in Wolverhampton, but he's had a heart transplant from Liverpool to Wolves - and it's been successful."

At the time Morgan adopted Wolves as his second team behind his beloved Reds, the Molineux men had just emerged from the Fabulous Fifties and Liverpool were in the Second Division.

How times have changed.

But quite clearly a desire for those times to change once again, and for Wolves to somehow mount a challenge to the likes of Liverpool and the Premiership elite, burns strongly in the Morgan psyche.

"Yes there is so much money in the game now but if you take Chelsea out, clubs like Manchester United, Liverpool and Arsenal have all spend their money through debt," says 54-year-old Morgan.

"I sincerely hope we can make inroads here at Wolves without using those sort of measures.

"Time has to evolve and first of all we have to get out of the Championship which is no mean feat. But things come in cycles, and hopefully Wolves have now had their bad cycle, the dark days before Sir Jack took over.

"And nothing would give me greater pleasure than to play my part in re-establishing Wolves as one of the top teams in the land.

"Wouldn't it be nice to think we could get back up there again?"

And to any of the cynical fans who might wonder at Morgan's motivation bearing in mind his Liverpool affiliation and failed efforts to take over at Anfield, the message is unequivocal.

"I'd be absolutely delighted to bring Liverpool here," he says. "And give them a good stuffing!

"I only have the desire to be successful here because this is a great club and this is where my future lies.

"That is my own motivation, nothing to do with Liverpool. The Liverpool history is just that, history, and I'm not looking back, only forward."

While it certainly is the time to look forward with the new Morgan era, yesterday's handover of power was also bidding farewell to the past, and Hayward's 17 years at the helm.

In front of a packed room filled not only with TV cameras and the assembled media but also Wolves office staff and members of the Fans Parliament, the old showman was in tip top form.

"I don't want some ex-Siamese prime minister taking charge of the club," he remarked when discussing the possibility of foreign investors.

"We had that lot in talking to take over West Ham for half a day but luckily the sandwiches we gave them were even worse than usual and it put them off," was another pearl.

Then there was the good-natured jousting over the fact he hadn't received his token "tenner" from Morgan - which was duly immediately handed over in a commemorative frame - before he responded in kind with his the famous `1 WFC' numberplate.

"But you're not getting the flipping car as well," he added.

On a serious note Sir Jack, who remains as Life President and will continue to tune into internet commentary while in the Bahamas or on his travels, also took time to reflect on the changes during the last two decades.

On the #60million to #70million he has splashed out - "I've lost count" - he remained unmoved.

"It's been a whole lot of fun," was the response.

His greatest legacy will surely be the 28,525 seater stadium, truly the House that Jack built, which dragged Wolves quite literally up from the gutter and a decrepit old ground with only two stands fit to be open.

Of other memories, there were good and bad, with one indeed following the other.

"What will I remember most of the last 17 years? Cardiff, Cardiff and Cardiff. What a truly unbelievable day.

"But then there's a bit of sadness and regret because while I took Wolves to the top but I didn't keep them there. That was where I boobed.

"We should have stayed there and moved up each season towards the top six but we didn't put enough money in, we didn't buy the right players.

"Towards the end I thought we were playing well and things started to click but it was too late."

For Morgan, who described owning Wolves as the "pinnacle" of his lifelong passion for football, now is a chance to really get his teeth into a job he has already been involved in all summer.

While everything changes, some things stay the same, and he expressed his complete confidence in boss Mick McCarthy - "absolutely the right manager for this club" - and chief executive Jez Moxey for doing a "great job".

The dynamics though will certainly change, and while Morgan is expected to adopt a fairly low-key media profile he will certainly be more `hands-on' behind the scenes, adopting the sort of diligent and determined approach which has earned him such success as a businessman.

Amid that thought comes the added emotional involvement, and at around 5.15pm tomorrow there will surely be a lump in the throat as, for the very first time, he watches HIS team run out at Molineux.

"Nothing I've ever done in my life compares to taking over Wolves," he says. "I was up at 3.30am yesterday - I couldn't sleep I was so excited.

"I've done some very large deals in the property world but you don't get this sort of excitement buying an office block I can tell you!

"How will I feel when the team run out tomorrow against Watford? Well I think I'll be standing next to Sir Jack, and we'll be both be very proud men."